The Manufactured Housing Forums

Well I can contribute here... I am 34 and have worked in collections since I was seventeen... I currently work for an Agency that purchases all of its work for change and we sue anyone that refuses to pay... Not a great way to go if at all possible... I would say find out what your pay off is and decide what is an acceptable amount of loss that you can afford... Remember one very important thing that what ever your upfront loss would be will pale in comparrison to how much it will cost you in the future years to come... From needing more money down and higher interest rates which will all result in more money out of your pockets... Instead of a cars finance charges total 1000 dollars it will total 4700.00 dollars not to mention any credit cards that dump you or change your rate from prime to 21%... If you think you are stuggling now wait till that happens... If you sell the house and have to take a 4000 dollar hit now better to take the hit. With your current credit standing you should be able to take out a small loan and pay off the loss on the house and pay 150 dollars a month on it the 4000 rather than it cost you over 30k over the next several years with the potential of being sued for the defficiency ballance raised interest rates canceled cards etc... Think this through and if I can be of any assistance to you let me know...